Sunday, August 31, 2014

The broad US stock market presently is valued 58.5% higher than at the end of 2002

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At the end of 2002, the Wilshire 5000 (x 1.2) divided by the nominal GDP for the year stood at 0.912. As of June 30, 2014, the same calculat...

Total Market Capitalization To Nominal GDP Ratios, Selected Years

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I have used the Wilshire 5000 level at year end multiplied by 1.2 as a proxy for total stock market capitalization (except where noted by...
Friday, August 29, 2014

Brad DeLong believes we are in a depression

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And calls it the true name for what we are experiencing, here .

Market capitalization to GDP for 1999, before the August 2000 high and subsequent crash

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The Wilshire 5000 level at the end of December 1999 was 13,812.7. Multiplied times 1.2 yields a total market capitalization of $16.57524 tri...
Thursday, August 28, 2014

Rush Limbaugh says Rutgers survey which mentions Obama 5 times never mentions Obama while blaming Bush!

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Ah . . .  no. The survey never mentions Bush, mentions Obama 5 times, and two of those times are in questions from the actual survey. See fo...

Dim bulb Rush Limbaugh doesn't know what an L.E.D. is

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Transcript here .

Does anyone really know what is the level of stock buybacks?

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The LA Times reported yesterday  here  that the level was $598 billion in 2013. But The Washington Post reported last December  here  that i...

2Q2014 GDP, second estimate, at 4.2% vs. 4.0% in advance estimate and -2.1% in 1Q2014

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If today's report of GDP holds up in the final estimate of 2Q2014 GDP about a month from now, Obama will have racked up just three quart...
Wednesday, August 27, 2014

Congressional Budget Office quietly predicts 1.5% real 2014 GDP one day before BEA.gov announcement

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Is 2Q2014 GDP of 4% just a memory? The Canadian Broadcasting Corporation (!) had the story here : "The Congressional Budget Office on W...

Why S&P500 2000.02 isn't the all time high

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Because adjusted for inflation the August 2000 high was 2048.10, so we remain 48.08 points away from the all time high, or another 2.3%.

S&P500 makes historic close above 2000 yesterday

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The housing riot: Average time in mortgage delinquency is 2.7 years nationwide, 4 years in New York State

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Lawlessness and mayhem isn't just for po folk in Ferguson, Missouri, where law enforcement was overwhelmed by the bad actors doing milli...
Sunday, August 24, 2014

Postmodernism at The Atlantic, continued, where the seven-day week is completely man-made

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What's completely man-made is this account of the week, "Where the Five-Day Workweek Came From", in which long observation of ...
Friday, August 22, 2014

Federal Reserve banks rob the people a minimum $400 billion annually through ZIRP, so far have paid just $125 billion in fines for financial crisis crimes

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Bank of America is a chief offender appearing in the lists. The latest fine against it, among others, is detailed here : "The B...
Thursday, August 21, 2014

S&P500 posts its 28th record close in 2014 at 1992

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That's one new record high every 1.18 weeks to date, down from just slightly more than one per week in 2013, or one new high every 1.02 ...

Sentier Research: Real Median Annual Household Income Down 3.1% From 2009, 4.8% From 2007, 5.9% From 2000

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The metric has recovered between 2011 and 2014 by 3.8%, so things could be a lot worse. But the report means incomes remain in a depression ...
Tuesday, August 19, 2014

Missouri governor calls in the National Guard to protect . . . the police

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The New York Times reports here  in "National Guard Troops Fail to Quell Unrest in Ferguson": "Early Monday, after a new spat...

The market crash is not coming with signs to be observed

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John Hussman, here : "Compressed risk premiums normalize in spikes. "Those spikes will make it quite difficult to exit in the nice...

Grand Rapids Community College students take less classes, learn fewer knowledge: VP for Finance and Administration copes with declining revenue

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Story at mlive.com here : Lisa Freiburger, vice president for finance and administration, didn’t have an estimate on the number of vacant po...

Gold bug Ralph Benko thinks Richard Nixon had to resign over the closing of the gold window!

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I like Ralph Benko. Ralph Benko often makes important arguments on behalf of the gold standard. But when he tries to force everything in the...